The Reserve Bank of India has approved Anup Bagchi’s appointment for a three-year term starting October 27, 2026, succeeding Sashidhar Jagdishan. Bagchi would be joining from ICICI Prudential Life Insurance where he has been serving as MD & CEO since June 2023. He is an ICICI veteran who had joined the group way back in 1992. … Read more
HDFC Bank MD & CEO Sashidhar Jagdishan has decided not to seek reappointment when his current term ends on October 26. He had assumed the role on October 27, 2020, succeeding the long-serving founder-CEO Aditya Puri. It was always doubtful whether he will be able to fill in the tall shoes of Mr Puri. The … Read more
After HDFC Life, Abrdn has quickly exited out of HDFC AMC too. After continuously reducing stake over the years, Abrdn had 10.2% balance stake left in HDFC AMC It has now sold this through open market transactions and realised Rs 4,079 cr The per share realised price is Rs 1,873 which is similar to the … Read more
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
HDFC Bank Ltd, India’s largest private lender, intends to prioritize home loans as a central part of its growth strategy after the completion of its merger with HDFC Ltd, according to two senior officials at the group. The officials told Reuters news agency that the pace of growth in home loans will broadly mirror growth … Read more
The government has declared the IT resources of ICICI Bank, HDFC Bank and UPI managing entity NPCI as ‘critical information infrastructure’, implying any harm to them can have an impact on national security and any unauthorised person accessing these resources may be jailed for up to 10 years, according to an official notification. The Ministry … Read more
After years’ of speculation, HDFC group today finally announced reverse merge of HDFC Limited (HL – the mortgage arm) into HDFC Bank (HB). Listed below are some key factual points for your perusal. Shareholders of HL will receive 42 shares of HB (FV Re. 1/- each) for every 25 shares of HL (FV Rs. 2/-each). … Read more
In one of it’s kind of arrangements (especially for HDFC Limited), HDFC has tied up with Indian Post Payments Bank (IPPB) for home loan distribution. Key points to note – IPPB has about 4.7 crore customers. HDFC’s idea here seems to get aggressive on affordable housing. HDFC said, “The partnership aims to facilitate HDFC Ltd.’s … Read more
2017 – “payment wallets like Paytm have no future” – Aditya Puri 2021 – HDFC and Paytm tie-up to leverage on each other’s strengths. Times change and so do the business compulsions ! It’s a very interesting arrangement and has the potential to lay roadmap for similar other tie-ups in future. Why is it so? … Read more